Global Powder Coatings Market: Key Highlights
Global Powder Coatings Market: Key Market Dynamics
Global Powder Coatings Market: Regional Overview
Asia-Pacific emerged as the fastest-growing region for this market, mainly driven by the expanding automotive industry. According to the International Organization of Motor Vehicle Manufacturers, India, Indonesia, Thailand, and Malaysia witnessed a positive percentage growth in the automotive industry of 8%, 10.3%, 9%, and 12.2%, respectively.
The market in North America is expected to witness high demand for powder coatings owing to the pertaining stringent regulations by the US Environmental Protection Agency. Moreover, the presence of a large industrial base in the region further propels the demand for powder coatings. The automotive production in the US stood at 11 million in 2018.
Global Powder Coatings Market: Key Players Overview
Akzo Nobel N.V. is a global paints & coatings, chemicals, and healthcare products company and has operations in more than 150 countries. It offers polymers, pulp and paper chemicals, surfactants, decorative and industrial coatings, oral contraceptives and antidepressants, veterinary vaccines, and pharmaceutical raw materials. In July 2019, the company announced plans to invest in its Changzhou powder coatings plant, located in China.
Axalta is engaged in the development, manufacturing, marketing, and selling of liquid and powder coatings. In September 2019, the company entered in definitive agreement to acquire Capital Paints LLC, a UAE-based thermosetting powder coatings manufacturer specializing in architectural powder coatings.
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